What is predatory pricing? Explain.

The term "predatory price" has been defined under the Competition Act, 2002 as the sale of goods or provision of services, at a price which is below the cost, as may be determined by regulations, of production of goods or provision of services, with a view to reduce competition or eliminate the competitors. Thus, the two conditions precedent to bring a case with the ambit of predatory pricing are: selling goods or provision of service at a price which is below its cost of production; and that practice is resorted to eliminate the competitors or to reduce competition.